Oil & Gas QatarEnergy LNG awards $4bn contract to Saipem By Pramod Kumar September 16, 2024, 4:33 AM QatarEnergy LNG Saipem's EPC contract will help sustain production at QatarEnergy LNG's North Field offshore natural gas reservoir QatarEnergy LNG, one of the world’s largest liquefied natural gas (LNG) companies, has awarded a $4 billion contract to Italy’s Saipem to boost its gas production. The engineering, procurement and construction (EPC) contract will aid in sustaining production at the North Field natural gas reservoir off the northeast coast of Qatar. The work scope includes the engineering, procurement, fabrication and installation of six platforms, 100 km of corrosion resistance alloy rigid subsea pipelines, 100 km of subsea composite cables, 150 km of fibre optic cables and several other subsea facilities as part of the North Field production sustainability offshore compression programme. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the Best of AGBI delivered straight to your inbox every week In October 2022, the company won a $4.5 billion EPC contract for the North Field production sustainability offshore compression complexes project. Work has started on the project. In May Qatar’s energy minister Saad Sherida Al Kaabi said he was bullish on global demand for LNG and his country was likely to push its production levels beyond those already targeted for 2030. He said state-owned QatarEnergy had secured sales of 25 million tonnes of LNG in the past year and expects to sign more this year. QatarEnergy signs $2bn deal with Chinese shipyard Natural gas, the Middle East and the $1.1 trillion question Shell beats Aramco in race to buy LNG business Qatar, one of the world’s top LNG exporters, announced plans in February for an 85 percent expansion in LNG production from its North field’s current 77 million tonnes per year (mpta) to 142 mpta by 2030. Previously, it was planning to expand up to 126 mpta. This month Saudi Aramco, the world’s largest oil producer, awarded two offshore contracts worth $1 billion to Saipem to expand infrastructure at its oil fields. The contracts are part of the 12-year framework agreement with Saipem, signed in November 2020, to cover onshore engineering and construction activities. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
